Constantia Flexibles completes sale of Labels division to Multi-Color

Constantia Flexibles has successfully completed the sale of its Labels division to

Multi-Color Corporation for an enterprise value of approximately €1.15 billion ($1.3
billion). All required regulatory authorities have cleared the transaction.
Constantia Flexibles has received approximately €830 million in cash and will
continue to participate in the future success story of Multi-Color through a 16.6%

The transaction brings together the high-performing Food and Beverage business of
Constantia Flexibles’ Labels division with Multi-Color’s strong Wine & Spirit and Home &
Personal Care platforms, as well as an emerging global position in Healthcare. The
combined annual revenues of the two businesses will be approximately $1.7 billion.

Alexander Baumgartner, CEO of Constantia Flexibles: “We would like to thank all
employees of the Labels division for their tremendous contributions to our Group in the
past and wish them a successful future as part of Multi-Color. Constantia Flexibles will
use the proceeds from the transaction to deleverage its balance sheet and enable further
acquisitions in the dynamic and consolidating flexible packaging industry. We will also
focus on innovative products and services, as well as new technologies to strengthen
our existing Food and Pharma businesses.”

Bernard Gautier, Member of Wendel’s Executive Board and Chairman of the Supervisory
Board of Constantia Flexibles: “I am very pleased with this successful transaction. First
and foremost, it recognizes the strategic value and the quality of the Labels business
developed over time by the extraordinary team at Constantia Flexibles. This deal
provides the company with an opportunity to refocus on its core business and grow more
rapidly. It also gives the company an indirect leadership position in the label industry as
the largest shareholder of Multi-Color, with a 16.6% stake in its equity. Through this deal,
Constantia Flexibles has actually contributed to the inception of a strong industry leader,
and we look forward to supporting its ambitious long-term growth plan.”
Wendel is majority shareholder of Constantia Flexibles, with a 60.5% equity holding.

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